10 Best Property Management Systems
Cloudbeds’ property management system (PMS), is a cloud-based front desk for your property. With it, you can check-in and check-out guests using an attractive drag-and-drop inte...
Mews is an innovative hospitality management cloud that empowers the modern hotelier to improve performance, maximize revenue, and provide remarkable guest experiences. A fully in...
Solutions built for yesterday's world and unnecessarily large patchworks of vendors and software cannot optimally serve your interests. Streamline your business' technology, amaze...
The First Cloud-Native PMS Running In More Than 550 Properties In 12 Countries Worldwide 94% Client Retention
Trusted by thousands of independent hoteliers around the world, innRoad is a feature-rich hotel management software designed to help save time, increase occupancy, boost revenue, ...
RMS delivers scalable, cloud technology trusted by more than 6,500 properties across 60 countries to manage, operate and grow hospitality accommodation businesses. As an innovativ...
Seamlessly manage your front-office activities like reservations, rates and invoicing from a complete and easy-to-use cloud system. Our hotel-first PMS is built by experienced hot...
WebRezPro is a complete, automated and flexible cloud property management system designed to increase productivity and revenue for all types of accommodations. From reservation ...
OPERA Property Management Suite (Opera PMS) is an enterprise property management system for hotel operations and distribution based on cloud technologies. Secure, scalable, and mo...
StayNTouch offers an intuitive Cloud PMS that simplifies hotel operations from end-to-end; including reservation management, front desk management, revenue management, housekeepi...
Recent Property Management Systems Articles
There’s no question that, in these unprecedented times, hotels are facing serious challenges. With the effects of the Covid-19 pandemic impacting so much in the hospitality sector – and these effects varying from season to season and, even, month to month – hoteliers are trying to fulfill the needs and desires of loyal and new guests like never before. To remain open and build the seeds of resurgence for when the coronavirus has receded and, mercifully, the pandemic is behind us, owners are coming to the realisation their hotels must become more intelligently-run enterprises. They need to become hotels run as efficiently and effectively as possible – they need to become ‘intelligent hotels’. But what does this mean in practice? What does an intelligent hotel look like? It comes down to the systems implemented and maintained, on a daily basis. It’s about trying to maximise profit by ensuring a hotel offers direct room-booking and that marketing activity and revenue management blend and work together seamlessly – and then using this symbiotic relationship to increase the revenue-per-available room (RevPar) to drive up bottom-line revenue. Intelligent Advertising So, if you’re seeking to run your hotel more intelligently, where to start? Well, advertising the property and its available rooms in the smartest way possible, direct to potential guests via pay-per-click (PPC) Google Ads, isn’t a bad place to start. This is because it would ensure your available rooms are advertised not just when they become available, but also to exactly the kind of people most likely to book them. Indeed, to run their property ‘intelligently’, then, a hotelier may well seek out top-of-the-range ‘intelligent ads’ software to complement and enhance their PPC activity. Such a solution would be designed to exploit the hotel’s data insights, in order to drive and improve Google Ads performance, by targeting the most likely bookers and so, in turn, maximise room reservations and increase additional spend on services and amenities. Now, if this kind of digital marketing sounds state-of-the-art, that’s because it is. ‘Intelligent ads’ software solutions like this are at the sharp end of room advertising, ensuring hoteliers can reap the rewards of the latest integrated marketing techniques and digital technology. They seek to drive up revenues at a time when the industry’s facing great instability; when hoteliers are seeking certainties to remain competitive, progress and look to the future with confidence instead of mere hope. ‘Intelligent ads’ solutions tend to be automated; you can set them up as you want and leave them to do their thing – confident they’ll get on and do exactly what they should. For instance, once you’ve set the objectives and the spending limits for your PPC campaigns, you can trust the module to run the campaigns without you having to step in, check on or oversee anything. The software doesn’t just target the right audience but also works out the most profitable target keywords, uses them in ad campaigns and – by scouring past market data drawn from previous campaigns – recommends new keywords for use. A Great Guest Management Platform All that notwithstanding, any ‘intelligent ads’ solution will be enhanced if it’s capable of connecting and interacting with an outstanding guest management system (GMS). Why? Because if the software is fully integrated with a GMS, it means a hotel owner can maximise their data to convert exactly the guests they desire into bookers. So, what does such a comprehensive management system look like? Well, as a fully-GDPR-compliant, all-in-one platform, it will deliver full guest-data-intelligence to hotel owners. It will be capable, too, of interacting with practically any property management system (PMS) and social media platform to enhance its analysing, quantifying, segmenting and predicting of loyal guest behaviour. In essence, then, an ‘intelligently run’ hotel would be making use of a management system that’s really a GMS/ CRM-plus; being able to harness its AI functionality to not just collate guest data but analyse details of guests’ social attributes, stay behaviour and historical spend. In turn, this would provide a hotelier with invaluable knowledge of their core customers, ensuring the platform can aid intelligent-ads in reaching these customers with pertinent, personalised content and offers – thereby converting them into bookers precisely as and when needed. Moreover, from its single, central dashboard an ‘intelligent’ GMS of this kind would take control of messaging. It would manage marketing emails and social media messages to all the hotel’s followers, as well as analyse these followers. It would create and send out personalised surveys to all or specific guests – before, during and after their stays. Plus, it would enable hoteliers to analyse guest reviews and respond to these reviews – not just on social media accounts/ platforms but also on much-used hotel review sites – thus, making sure they can fully manage their hotel’s online reputation. A Brilliant Booking Engine Finally, to operate as an ‘intelligent hotel’, a property has to be backed up not just by an outstanding GMS and be able to fire off intelligent ads, but also exploit the advantages offered by a brilliant booking engine. Why? Because a guest’s experience with a hotel doesn’t begin when they walk through the front door and stroll through the lobby to the front desk; it starts far earlier. A guest experience begins as soon as they start to book a room at the hotel – it starts with their experience of that hotel’s booking engine. No hotel can be run intelligently unless it’s using a top-of-the-range booking engine. Such a booking software solution, then, delivers exactly what hotel owners require. Offering exceptional tools and features, it can be customised to fit a hotel’s brand needs. A fully-functional booking engine like this ought, too, to be fast-operating and easy-to-use; designed to provide a consistent experience on hotel websites that appeases customers and makes them far more likely to book direct rather than through an OTA (without redirections or pop-ups). It’s all about building loyalty among guests and, therefore, maximising conversions. Moreover, a state-of-the-art booking engine will enable customers to compare room prices with those offered by online travel agents (OTAs) – when the room price available is cheaper than those offered by OTAs. Plus, being able to integrate with hotel marketing/ management platforms, it should help hoteliers better understand and engage their guests, so they can gain insights to improve overall guest experiences, drive up ancillary revenues and boost direct booking revenues. Conclusion Without doubt, the world – and, by extension, the hospitality sector – is going through unprecedented changes. Yet, with or without the Covid-19 pandemic, we’re living in the digital age and, with that, comes rapid advancements and opportunities. For hoteliers, that means taking full advantage of the chance to deliver and increase direct hotel bookings and boost revenues, thanks to integrated hotel management platforms, intelligent marketing/ ad campaigns and customisable booking engines. Should they not do so, hotel owners will lose ground to rivals in these uncompromising, unpredictable times. Put simply, every hotelier should join and fully prosper from today’s digital age – by making their hotel an intelligent hotel.
As travel opens up, so comes a surge of travel. Pent-up desire for holidays has resulted in what some are calling ‘revenge travel.’ After some hesitation, hoteliers are reporting more demand than ever since the beginning of the pandemic. This has resulted in a challenging scenario. Before COVID-19, the hospitality industry was no stranger to employee retention and acquisition issues. But suddenly, faced with low bookings, many hotels had to make the difficult decision to lay off staff. Fast forward to today, some hotels have been forced to turn away guests because of even greater staff shortages than before. While theories abound about shortages, accompanied by HR strategies to attract new hotel employees, we’re here to remind you to take a deep breath because hotel tech is here to help! Tried and true, existing hotel tech can help your hotel with labor shortages by making operations more efficient and less time-consuming while improving the guest experience. PMS Features and Integrations Alleviate Hotel Labor Shortages According to Revinate, 95% of hoteliers are facing a staff shortage while occupancy is experiencing record highs. One hotel in their report said their shortage has them operating with only 70-75% of their staffing levels. This is the norm, not the outlier, in today’s market. But, as many independent hotels learned during the pandemic, those with a cloud-based property management system (PMS) already have a leg-up on their ability to streamline operations and maximize staff. Because, as the name implies, cloud-based PMS exist in the ‘cloud’ (they run online), operators can manage their hotels from anywhere at any time. Hotel managers no longer need to drop everything and dash back to the hotel to deal with accounting issues or make rate changes. Front-desk duties, such as group management and availability calendars, or back-office tasks, like rate management and financials, are all at your fingertips, wherever you are. Automation. Nothing streamlines operations like automated systems! At the heart of operations, the PMS automatically coordinates reservations, inventory and availability, housekeeping, and reporting, centralizing data to streamline front- and back-office tasks. For example, instead of manually sending routine emails to guests, set up and send templated emails from your PMS automatically based on defined triggers for booking confirmation, pre-arrival, check-in and post-stay communications, waitlists, group bookings, rental agreements, and more. A cloud PMS is easily integrated with your other hotel systems — including payment gateways, OTAs, point-of-sale systems, locking systems, CRMs, and revenue management software, etc. — to automatically share relevant reservation data with those systems so that staff don’t have to manually re-enter information into multiple systems. System integration with your PMS at the core is an important part of automating processes and maximizing efficiency. Self Check-in: Let guests jump the queue with online registration and self check-ins — saving you time and resources in the process. Typically, hotel guest check-ins — with forms to sign and policies to review — take around five minutes per guest and often result in queues, occupying your front desk staff and frustrating guests. By moving this process online, all agreements, waivers, screening, and guest information collection is completed online by your guests in advance of arriving at the hotel, improving the guest experience by not having to wait in a physical queue, while simultaneously saving staff a lot of time! With automated email or SMS communications, payment gateway and mobile key integration, the entire check-in process can be automated. Rate Management: Flexible rate management tools make monitoring and adjusting pricing a cinch, from creating group discounts and package rates to instant overrides. Yield management functionality allows you to automatically adjust prices based on predetermined occupancy rules — talk about a time saver! If you haven’t already added a commission-free online booking engine (OBE) to your property’s website, this is your first order of business. Integrated with the PMS, reservations made by guests using the OBE are automatically updated in the PMS, and live rates and availability are always displayed online. Not only will you save valuable employee time from taking reservations by phone and email but today’s guests expect (and many even prefer) to book online. While OTAs are a great way for guests to find you and book online, why not offer your own online bookings and save on commissions? Speaking of OTAs, you’ll also save time by integrating your OTA channels or channel manager with your PMS to synchronize live inventory, rates and availability across channels, instead of managing each separately. Plus, all reservations coming through your channel partners are automatically updated in your PMS so no matter where guests book, they always have access to up-to-date availability. Integrating your PMS with your online distribution channels is a must for maximizing time and preventing overbooking. Housekeeping reports: While a PMS cannot perform housekeeping duties, it can make housekeeping processes more efficient, which is essential with a lean staff. With a mobile housekeeping report, staff can check their housekeeping schedule using their own mobile phones, to see which rooms are vacated and ready to be cleaned and to mark rooms as clean as they go, adding housekeeping notes and maintenance alarms as required. The front desk is kept in the loop in real time with the same system. Furthermore, checklists for each room keep staff on track to ensure nothing is overlooked — because as you know, when it comes to cleanliness, guest standards are higher than ever before due to the pandemic. Mobile keys: Keyless entry is an elegant accompaniment to online registrations and check-ins. While it may seem small, keyless entry technology removes the headache of keys altogether, whether it’s actual keys or cards. No more sanitizing, organizing, re-setting, or distributing. With keyless entry system integration with your PMS, guests can simply unlock their room door with their mobile device. Along with online check-ins, keyless entry integration allows guests to bypass the front desk altogether! Imagine no guest lineups at the designated check-in time and no key drop-offs at check-out. Did we just hear a sigh of relief? Save time, resources, and money by employing smart room technologies. Allowing guests to adjust room temperature and lighting with their phones puts comfort into the palm of their hands. Better still, IoT offers the ultimate in personalization with room light levels that adjust with the time of day, and keeps the room temperature at exactly the right level — automatically. This kind of efficiency decreases demand on housekeeping and maintenance teams and helps with your sustainability initiatives. Chatbots: Hotel Chatbots are an excellent way to assist your online guests 24/7 without any extra effort from staff. Integrated with your hotel's website and/or within your guest messaging app, an AI or rules-based chatbot can assist guests with booking, requests, FAQs, upsells, and local recommendations. Younger generations are the most comfortable seeking help from chatbots, with many guests preferring to search for answers this way than connecting with a real human — which frees up your human employees for in-person help. Robot room service: A couple of years ago, robot room service was exclusively seen as a novelty service to delight guests. But in the age of COVID-19, it’s obvious to see the practical utility of employing robots by reducing human contact (and thus germs) and by reducing the need for bellhops. Because labor shortage is a trend that existed even before the pandemic hit, perhaps investing in robot room service is no longer pie in the sky. Isn’t technology an amazing thing? Instead of providing a lack of care or impersonal service (a common fear about using technology), today’s hotel tech provides hoteliers with a way to upgrade the guest experience even in the face of decreased staffing. If your property does not have one already, a robust and innovative cloud PMS like WebRezPro can set you on the path toward hospitality excellence and higher revenue, not to mention less stress.
Shortly after COVID restrictions were eased, I went on a short golfing trip to Austria. I booked a well-known boutique hotel with a SPA and a fantastic restaurant surrounded by vineyards. I found out later that many other people had the same idea, as the hotel was fully booked for the weekend. Well, good for them, I thought. Anyway, when I arrived, it was raining, and I didn't bring my umbrella with me. So I came into the hotel soaked, hungry, and in desperate need of a shower. Unfortunately, out of the two check-in desks available, only one was operating, and the poor guy was trying hard to check in all the arriving guests as quickly as possible, while doing his best to have a cordial chat with them. Make no mistake: I'm sure it wasn't his fault that we had to wait for five minutes before he finished with the previous guest. When finally my turn came, the receptionist spent a tremendous amount of time staring down at his computer. I tried to ask him a few PMS-related questions, to understand why it was taking so long (of course, he didn't have any idea I knew a thing or two about PMSs), but I started to feel bad for the people waiting behind me, so I stopped any efforts to communicate with him, and I wasn't even told where and until when I could get my breakfast or where the SPA was. And that was the moment I realized, at least on a personal level, that there's something intrinsically wrong with hotel tech today. When Technology Breaks Down Now, I am sure that, if you’re a frequent traveler like me, you have similar horror stories. According to a Qualtrics survey, 57% of poor hotel experiences are down to unfriendly staff. Problem is that, very often, hotel staff is unfriendly because they’re overworked, especially post-COVID, when properties are operating with skeleton staff. Here’s where technology should help, but the Austrian one is the perfect example of a case where it didn’t, and this happens way more than we, in the industry, like to admit. Moreover, tech should not only improve operations, but guest experience as well. Bad news is that, often, it fails in both fields. When your tech stack increases workload and waiting time at the reception (or in any other department, for that matter), you know you’ve got a problem. Technology is fallible, whatever you may think, and choosing the wrong software can heavily penalize your operation. A couple of years ago, a curious news story was published: the Henn-na hotel in Japan, known mainly because a good part of its employees are actual robots, had to "fire" 243 of them for doing "a bad job." One staff member, interviewed by The Mirror, stated: "It's easier now that we're not being frequently called by guests to help with problems with the robots." Well, this is an extreme example, but it’s not uncommon to see hotel staff having to find hacks and workarounds to make things work. If you’ve ever had a job in the hotel business, you know exactly what I am talking about. The Role of the PMS in the Hotel Tech Stack Now, at the core of hotel operations, there’s always the PMS, so this is where the majority of problems start: bad integrations, lack of built-in features, etc. Choosing wisely is crucial, but not always easy, especially because hoteliers may be, paradoxically, unaware of the problems they need to solve. This is not due to the fact that hoteliers are bad entrepreneurs, quite the opposite! Problem is that being a hotelier means having to manage many operational aspects of the job, most of which are very complex and detailed. A General Manager, for instance, will obviously have to prioritize certain tasks, rather than spending hours to go deep and understand a certain technical problem. The thing with PMSs is that they’re the kind of software which is used by several different departments, so everyone has an opinion on it, yet a partial one. Sales & Marketing will likely never have to insert a group reservation, while the front office department won’t have to deal with MICE requests. In my experience, General Managers are the ones which can green light the implementation of a new software, coordinating, understanding and synchronising different departments’ needs, but chances are that their vision is limited, due to too many things on their minds, too. And we’re back to the hotel in Austria: somebody picks the wrong software, the system makes the life of all (or, at least, some) employees miserable, there’s less time to focus on the guests (which is even worse than the previous issue, while, of course, unhappy employees are unlikely to make guests happy), and… Well, you see where I am going with this, don’t you? How PMSs Can Improve Operations and Guest Experience So, when picking a PMS, you should always be asking the one million dollar question: will this system make my life (and the life of my staff) easier so that they can make my guests happier? Knowing what to look for in a PMS can make a huge difference, so make sure that you understand what a property management system can (or can’t) do for you while trying to go into details during the process. Because if there’s anything we have learned over the past two decades, is that the devil is always hidden in details. Here are some of the areas where a good PMS can actually make a difference for both the hotel staff and guests: Reducing the workload during the check-in/out process. A publication by Cornell’s Center for Hospitality Research studied guests’ tolerance of delays during check-ins, and found that the “breaking point” for US guests is as short as five minutes. There’s an interesting discussion on Quora titled “What is the actual average length of time (in minutes) for hotel check-in and check-out?” Of course, the method is far from scientific, but it’s a fascinating read. According to the discussion, a best-case-scenario-check-in is at least 2-3 minutes. You know what that means? That if an American guest has two persons in front of him, he will likely leave a pesky review… Self check-in kiosks and apps can dramatically improve the check-in/out experience, yet most PMS do not support the technology; Remove friction during payments. It’s not uncommon to find hotels that still manage credit card payments manually. Usually, it goes like this: the back office department receives a booking, and they have to log in into the extranet, find the reservation, get the card, switch to another page for the CVC, get the physical terminal POS, type the total amount and the card details, wait for the transaction to go through. If this doesn’t look like a big deal for you, try to time your staff while they do it. I doubt it will take them less than five minutes per transaction. Now, let’s say you receive 25 reservations a day: that’s over two hours wasted just to charge credit cards. Not to mention what happens if the card does not work, you have to ask for a new one and start the process all over again. A PMS can solve the issue with payment automation proprietary features, or by integrating to third-party providers; Integrate invoicing systems. It may sound crazy in 2021, but I have seen too many hotels where the reception has to ask accountants to issue an invoice and, on the other side, too many accountants typing numbers manually from PMSs reports into their accounting systems… A simple integration will save hours of manpower every day; Connect your PMS to your SPA system. In most cases, if a hotel guest wants to book a treatment at the desk, the reception has to call the SPA, check availability and then book. Integrating the two systems will dramatically reduce workload, and guests will also be able to book and check availability directly online; Get smart in F&B. The adoption of QR codes and online ordering increased dramatically due to anti-COVID guidelines, and this is a prime example of a system that can dramatically reduce waiting times and improve guest experience. Customers are able to order (and pay) immediately on their phones. This reduces the waiting time (the waiter does not have to come and take your order or bring you the bill). Customers are in full control of the timing, and restaurants can allocate less staff to serve the same number of people, saving money. Moreover, thanks to Kitchen Display Systems (KDS), orders are not printed on paper but are shown digitally on a screen in the kitchen. KDS can also measure the average time needed to cook a meal, improving efficiency and customer satisfaction; Housekeeping digitalization. Another feature that COVID dramatically accelerated is the adoption of housekeeping apps, both built-in in the PMS or provided by third-party vendors. They reduce workload and make communication between departments easier. Hoteliers can also benchmark housekeeping staff timing to optimize operations and - particularly important for green hotels - drastically reduce the use of paper. According to a study, hotels use almost 2B A4 sheets per year in the United States only, meaning that 268,000 trees are chopped down annually only to fulfill the hotel industry's needs. It's the equivalent of 15 New York Central Park worth of trees cut every year! Automated emailing. Even though this is a feature we tend to associate with CRMs, some PMSs provide built-in functionality to communicate with guests pre/mid/post-stay, improving both the guest experience and increasing revenue coming from ancillary services proposed in the emails; Connect. Connect. Connect. It may sound crazy, but there are still a lot of hotels without a proper 2-way-integration between the PMS and the channel manager. It goes without saying that linking the two systems will dramatically reduce workload and bring human error down to virtually zero. Understand the Tradeoffs of New Technology to Maximize Impact Paul Virilio once stated: “When you invent the ship, you also invent the shipwreck; when you invent the plane you also invent the plane crash; and when you invent electricity, you invent electrocution... Every technology carries its own negativity, which is invented at the same time as technical progress.” This is true for hotel tech as well, that is why implementing technology just for the sake of it it’s never a good idea. Choosing any software, and PMSs, in particular, requires a complete understanding of the property’s current (and future) needs. The risk with picking the wrong system is to end up like the Austrian hotel I wrote about at the beginning of this piece. At HotelTime Solutions, we provide tailored solutions and follow our customers during all the phases of the implementation, making sure that they can focus on what they do best: taking care of their guests.
Recent Property Management Systems News & Community Updates
Stayntouch Partners with Residential Hospitality Brand Mint House to Launch Guest-Centric Cloud PMS Across 22 Properties5 days ago
Stayntouch, a world-wide leader in guest-centric cloud hotel property management systems (PMS) and contactless technology, today announced an expanded partnership with Mint House, a transformational residential hospitality company that offers tech-forward apartment-style accommodations across the United States. Debuting with the brand’s award-winning property, Mint House at 70 Pine - New York, Stayntouch has completed the deployment of its guest-centric cloud PMS across 22 Mint House properties. Founded in 2017, Mint House operates in more than 15 major U.S. cities including New York, Miami, Austin, Denver and Nashville with plans to grow to 3,000+ rooms in 30 additional markets over the next 12 months. Mint House selected Stayntouch because of its flexible, open-API architecture and comprehensive integration library, advanced automation capabilities, and ability to facilitate a tech-first hospitality concept and contactless guest journey. Mint House also leverages Stayntouch’s day-use booking feature to offer rooms ideally suited for flexible, remote work. “Mint House provides a comprehensive and guest-centric tech ecosystem that includes everything from mobile check-in and smart thermostats, to on-demand fitness,” said Patrick Duffy, Head of Revenue Strategy at Mint House. “Stayntouch’s emphasis on automation and contactless solutions allows us to efficiently operate our properties and customize our sales and revenue strategies to deliver against an undeniable shift in consumer behavior towards remote work and truly flexible travel.” “We are delighted that Mint House has chosen to expand its partnership with Stayntouch, because both companies share the same underlying mission and philosophy: That technology can be used to deliver an exceptional guest experience, while continually reimagining and enhancing the relationship between hotels and their guests,” said Michael Heflin, Chief Revenue Officer at Stayntouch. “We are proud that our intuitive and flexible PMS is helping one of the world’s most innovative hospitality brands meet the ever-changing demands of today’s travel landscape.” ABOUT MINT HOUSEMint House is transforming the traditional hotel model and creating a new category of hospitality that is fundamentally changing the way we live, work and play away from home—all powered by technology. Mint House's award-winning properties are thoughtfully designed with full kitchens, expansive living areas and connected workspaces in prime downtown locations—offering a new kind of stay that's smarter and more comfortable than a hotel and delivers on the personalized service and consistency travelers have come to expect. Mint House's proprietary tech stack and mobile-first model powers a seamless and feature-rich guest experience including mobile check-in and keyless entry, pre-stocked groceries, 24/7 digital concierge services, on-demand fitness, smart thermostats and shoppable spaces.
Advent International and Eurazeo complete the acquisition of protel Hotelsoftware GmbH, a leading software hospitality solutions business1 week ago
Advent International (“Advent”), one of the largest and most experienced global private equity investors, and Eurazeo, a leading global investment company, today announce the completion of their acquisition of protel hotelsoftware GmbH (“protel”), a global leader in developing technology and service solutions specifically for the hospitality sector. Originally founded in Dortmund in 1994, protel has built a reputation as one of the most experienced and successful global providers of hospitality technology and its software is currently used in more than 14,000 hotels across 93 different countries. Advent and Eurazeo will work in partnership with protel’s management to continue building on the company’s world-class technology and deliver new innovations to customers faster. This will further strengthen and accelerate its position as a leading software and technological services provider for hotels globally. About Advent International Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 private equity investments across 42 countries, and as of September 30, 2021, had €75 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. About Eurazeo Eurazeo is a leading global investment group, with a diversified portfolio of €27.0 billion in Assets Under Management, including €19.2 billion from third parties, invested in over 450 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 350 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin, Milan and Madrid.
Record Growth in New Customer Acquisition & New Leadership Mark 2021 as Best Year in Stayntouch History, Sets Momentum for Accelerated Growth in 20221 week ago
Stayntouch, a global leader in guest-centric cloud hotel property management systems (PMS) and contactless technology, has announced a record year in performance for the company in 2021, with sharp increases in both new hotel customer acquisitions and the number of hotel rooms under contract. The success follows the establishment of new C-Suite and Sales leadership in the first half of 2021. 2021 has been a rollercoaster year for both hoteliers and the travel market. While some hotels enjoyed incredible increases in occupancy and revenue, others struggled with persistent staffing shortages and consistently shifting market conditions. Stayntouch guest-centric cloud PMS has been instrumental in helping hotel customers combat market challenges with flexible, powerful, and intuitive technology enabling hotels to alleviate operational demands and staffing shortages, and deliver a seamless and contactless on-property experience. Stayntouch’s suite of attractive and flexible services and solutions helped the company close out 2021 with record year-over-year performances, including a 65% increase in new hotel customers acquired and a 56% increase in hotel rooms under contract. This momentum is set to continue into 2022, as Q4-2021 marked the company's best quarter in new monthly recurring revenue (MRR), and the company closed December with the highest recorded new MMR in Stayntouch history. Jason Jenkins, Stayntouch’s Vice President for New Business in Sales, comments on the year’s success, “Hoteliers need a PMS that can help them stay competitive in today’s dynamic travel environment, while also helping them combat staffing shortages by getting the most out of limited resources. We’re proud to help our customers and the market address these needs with a platform that is simultaneously guest-centric, staff-centric and operator-centric: Our PMS delivers a mobile and contactless guest experience in a platform that is easy-to-use, easy-to-implement, and easy-to-scale." Priya Rajamani, Stayntouch’s Vice President of Implementation and Support, added, “We work hard to foster a strong culture of support with our client base. In this travel climate, that means providing the option for a fully remote implementation process 一 In fact, over 90% of all of our deployments were completed remotely in 2021. Customers have seen immediate results after implementation due the scope and quality of our training resources, the expertise of our implementation and client success staff, and the intuitiveness of our platform." Michael Heflin, Chief Revenue Officer gives insight into the company’s focus in 2022, “Our customers and hoteliers at large are looking for technology partners that are committed to listening and responding to their needs as the market continues to evolve, and helping them succeed in an unpredictable market. As we embark on a New Year, we are committed to working alongside our customers, with a spirit of innovation, to solve the most pressing challenges our industry faces today and capitalize on the most exciting opportunities awaiting tomorrow.”
Property Management Systems Category Overview
What is a Hotel Property Management System? (Hotel PMS Basics)
A property management system (PMS) is a hotel management software suite that property owners and front desk workers use to manage their business by coordinating reservations, online booking availability, payments, and reporting in one central place. The Hotel PMS streamlines operations for front office staff and guest services in a hotel business to check-in and check-out guests, see room availability, make adjustments to existing reservations, and even can have back office functionality (schedule housekeeping or maintenance ). With a central system, hoteliers can better manage and monitor the key metrics needed to run their business (e.g. average daily rate, occupancy, and RevPAR). To learn more check out our in depth article: What is a Hotel PMS?
What are the Most Important Features of a Hotel PMS in the eyes of Hoteliers?
- User-friendly interface Train your staff quickly and can reduce the likelihood of errors. The best PMS solutions today are self-service and help to streamline operations by enabling hospitality businesses to check in guests faster. Many modern platforms can even be operated from a mobile device via mobile app.
- Check-in/check-out guests and modify guest reservations - Keep track of guest profiles and move them around as needed keeps you on top of your reservations and reduces the likelihood of overbookings.
- Central dashboard - See what is happening, what needs to be done today, and monitor your key metrics. ;View reservation management details in your PMS solution.
- Personalized taxes, fees, and policies - Customize taxes, fees, and cancellation policies in the combination that best suits your business.
- Government compliance- Comply with local tax reporting requirements and regulations.
- Guest communication - Improve the guest experience with automated pre and post-stay communications.
- Reporting suite - Generate detailed production and financial reports to improve business operations. Helps property managers understand booking channels.
- Payment processing - Ability to take credit card payments in compliance with local and global regulatory standards.
What Integrations Should a Hotel PMS System Have?
Central Reservation System: core hotel industry data to help run your hotel (note that many hotel chains have proprietary CRS systems) while independent hotels typically use off the shelf solutions. A CRS allows your hotel to distribute efficiently via major GDS platforms like Travelport, Amadeus and Sabre
Revenue Management System: increase revenue with better rate management
Booking Engine: online booking engines display PMS inventory to take online reservations
Channel Manager: channel management software helps manage connectivity to OTAs like Expedia, Booking.com or even a vacation rentals platform like AirBnB
Hotel operations software: Your PMS absolutely must integrate with key service optimization and hotel staff collaboration software
Hotel CRM: A PMS is the nucleus of your hotel centered around inventory; however, to operate efficiently hoteliers also need a CRM system centered around guest profiles. Your CRM must be able to pull data from your PMS to populate profiles and calculate key metrics like recency, frequency, and monetary value
* all integrations should ideally be facilitated via API in order to improve connectivity and mitigate errors or downtime
What Makes a Great Hotel Property Management System?
- Channel availability and integration - While hotel property management software doesn't always have an integrated channel manager, it's critical that your software vendor has a strong integration to a top rated channel manager if this functionality is not integrated. Premium vendors allow you to sync your availability to multiple channels in real-time and provide booking engine functionality. Some vendors offer an all-in-one hotel software solution that reduces the overhead of managing and learning multiple systems.
- Depth of reporting and analytics - In addition to basic reporting functionality, some PMS’s allow you to monitor market data, create automated rules and triggers adjust prices and provide insights related to pace, pickup, and occupancy.
- Group functionality - A premium PMS can scale across multiple properties and grow with your business.
- Check-in kiosk - In the age of covid it's critical that your hotel can facilitate contactless check-in for guests and a kiosk is one of the best ways to deliver that comfort and safety
- Automation - a great PMS can be programmed to automate key processes within your hotel from check-in to chargebacks and more
How Much Does a Property Management System Cost (Pricing)?
Pricing for cloud-based PMS products are typically based on how many rooms or properties utilize that system. Many PMS products have calculators on their website that will help you better understand what to expect for pricing. Be wary that some PMS systems will charge additional fees on top of monthly fees. These additional fees can include percentage commission on direct bookings, implementation/setup fees, interface fees to connect to 3rd party systems, etc.
A budget PMS starts at around $50 per month and scales upward based on occupancy and/or number of rooms. Premium pricing for a PMS starts around $200 per month for the smallest properties and scales upward based on occupancy and/or number of rooms.
Setting Realistic Hotel PMS Implementation Expectations
For most cloud-based systems, implementation can take one to three weeks depending on: how many reservations need to be imported and who is importing the data (some PMS will offer services to do this for you), the number of properties and rooms you have and any customizations you would like to add.
Implementation will typically start by setting up the application - setting up rooms, room types, adding rates, and importing/adding existing and future reservations. An implementation coach or representative may work with you through the setup process, and verify your setup. Finally, you will connect your channels or channel manager to start taking reservations. Done correctly, there is no downtime between switching systems. A good PMS will also provide access to a video training library and knowledge base of its features to help new users get started.
A successful implementation requires an initial investment in time to configure your property properly - it’s an investment that has a direct impact to the efficiency of your operations later. For example, setting up your cancellations policy now will allow you to enforce that policy later.
How do I know when it’s time for my hotel to move onto a new cloud PMS?Purchasing a new PMS is an investment in time and resources; however, there is considerable opportunity cost that needs to be considered. The right PMS can improve the customer experience by reducing errors like overbookings, improve occupancy rates by connecting your available inventory to your booking engine and channel managers, and help make your more money by letting you adjust your rates quickly- across all of your channels based on market conditions. On average, our customers enjoy an average profit margin increase of 15% after only three months. This more than pays for the investment and effort involved with migrating to a new system.
Hotel PMS Benefits
Property management software or hotel PMS is the backbone of hospitality industry operations; the PMS eliminates costly overbookings by managing room availability, coordinates with any connected channel managers to improve room occupancy, accepts payments, and performs key day-to-day functions such as transferring guests, updating room rates, and managing housekeeping tasks. The PMS can automate and improve a hotel’s business operations by providing competitive intelligence, automatically adjusting prices based on availability, and providing analytics and reporting functionality. The PMS enhances the guest experience by remembering customer preferences and sending pre and post-stay communications. Many PMS systems can also integrate with other technologies such as point of sale systems, payment processors, hardware manufacturers, and guest experience software.
What does a property management system do?
A property management system is “mission control” of a hotel. The PMS houses all reservation information, guest profiles, room status (clean, dirty, or out of order), room types and rate plans, folios and invoices, and reporting. Staff from nearly all hotel departments use the PMS, from front desk and housekeeping to sales and accounting.
What are the types of property management system?
Property management systems range from simple tools for basic reservation management to cutting-edge tech that can support the needs of a modern hotel or resort. Property management systems can be cloud-based or on-premise, and many systems offer integrations with point-of-sale systems, revenue management tools, channel managers, and more.
What is property management system and how does it work?
A property management system is software used by a hotel to manage all rooms, rates, reservations, and guest billing. Each room is represented in the system so staff can manage nightly rates and reservations for that room, plus track whether it’s clean or dirty. The PMS also holds all guest contact info, history, and billing information.
How PMS is used in a hotel?
Hotel staff use a PMS to manage all aspects of hotel operations. Reservations agents manage reservations in the PMS, front desk agents use it to check guests in and out, housekeeping staff rely on the PMS to know which rooms to clean, and accounting staff use it to manage guest billing.
Is Property Management expensive?
Property owners typically pay between 8% and 10% of monthly rent revenue to a property manager at a residential property. Vacation rental property management is more expensive; management fees are usually between 20% and 30% of revenue. However, when considering the time and expertise needed to manage a property, hiring a property manager is often worth the expense.
Why is property management system required for hotel staff?
A hotel without a property management system is like running a business without using email. Without a PMS, hotel staff cannot manage hotel operations in one central system. A PMS allows various staff members to book and manage reservations, check guests in and out, collect payment, and run reports at the same time, from any computer.
What are the skills of a property manager?
A property manager needs a combination of communication skills, business acumen, and technical know-how to succeed in their job. Property managers must communicate effectively with owners, tenants, and vendors, and knowledge of building codes, maintenance needs, and is helpful. Marketing, customer service, and budgeting are also essential skills for a property manager.